Zacks Investment Research lowered shares of Kindred Biosciences, Inc. (NASDAQ:KIN) from a buy rating to a hold rating in a report released on Saturday morning.

According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “

Several other analysts have also issued reports on KIN. ValuEngine upgraded shares of Kindred Biosciences from a sell rating to a hold rating in a research report on Friday, June 2nd. FBR & Co restated a buy rating on shares of Kindred Biosciences in a research report on Wednesday, May 31st. Finally, Aegis initiated coverage on shares of Kindred Biosciences in a research report on Friday, June 16th. They issued a buy rating and a $10.50 price target on the stock. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Kindred Biosciences presently has an average rating of Buy and a consensus target price of $8.90.

Shares of Kindred Biosciences (NASDAQ:KIN) opened at 7.35 on Friday. Kindred Biosciences has a 12 month low of $3.90 and a 12 month high of $9.65. The stock’s market capitalization is $204.60 million. The company’s 50-day moving average is $7.28 and its 200-day moving average is $7.24.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. Equities research analysts expect that Kindred Biosciences will post ($1.27) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Lowers Kindred Biosciences, Inc. (KIN) to Hold” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/09/26/zacks-investment-research-lowers-kindred-biosciences-inc-kin-to-hold.html.

In other Kindred Biosciences news, major shareholder Park West Asset Management Llc bought 600,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $4,500,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Chin sold 13,000 shares of Kindred Biosciences stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $8.26, for a total transaction of $107,380.00. Following the sale, the insider now owns 2,297,546 shares in the company, valued at $18,977,729.96. The disclosure for this sale can be found here. Company insiders own 19.10% of the company’s stock.

Several institutional investors have recently modified their holdings of KIN. Park West Asset Management LLC boosted its position in shares of Kindred Biosciences by 120.5% during the 1st quarter. Park West Asset Management LLC now owns 4,386,404 shares of the biopharmaceutical company’s stock valued at $30,924,000 after acquiring an additional 2,397,320 shares in the last quarter. AJO LP acquired a new stake in shares of Kindred Biosciences during the 2nd quarter valued at about $2,407,000. Vanguard Group Inc. boosted its position in shares of Kindred Biosciences by 57.7% during the 2nd quarter. Vanguard Group Inc. now owns 745,322 shares of the biopharmaceutical company’s stock valued at $6,410,000 after acquiring an additional 272,612 shares in the last quarter. State Street Corp acquired a new stake in shares of Kindred Biosciences during the 2nd quarter valued at about $2,209,000. Finally, Morgan Stanley boosted its position in shares of Kindred Biosciences by 12.6% during the 1st quarter. Morgan Stanley now owns 2,027,560 shares of the biopharmaceutical company’s stock valued at $14,294,000 after acquiring an additional 226,822 shares in the last quarter. Institutional investors and hedge funds own 60.37% of the company’s stock.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.

Get a free copy of the Zacks research report on Kindred Biosciences (KIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

Receive News & Ratings for Kindred Biosciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kindred Biosciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.